Tom Cruise, poised to be the first blockbuster movie star to return to theaters with ‘Top Gun: … [+]
AFP via Getty Images
With three vaccines jabbed into more American arms than individuals currently infected with Covid-19, with the warm Spring days providing optimism against the virus’s spread and a pent-up public desperate to enjoy entertainment in communal settings, Wall Street has sent entertainment stocks to all time highs.
Other recent Hollywood-oriented milestones fuel tinsel town’s value, substance and optimistic outlook, including:
- New York City and Los Angeles, hosts to the largest number of movie theaters in the world, re-opened their cinemas (for now at 25% capacity, but still, a giant development in the exhibition space) seeing a 525% spike in ticket sales
- The Walt Disney Company’s DIS signature theme park, Disneyland, announced “late April” for its reopening target, as other Disney parks stagger their invitations to return around the globe (Disney World had already begun selling tickets in Florida last Summer), while the company has crossed the 100 million subscriber mark with its upstart, Disney+, five years ahead of schedule
- CBS VIAC aired its most successful special in years, with Oprah interviewing Harry and Meghan. Also home to this past January’s Super Bowl, CBS promoted the launch of its parent company’s streaming service, Paramount PGRE +, a re-branding of the already successful CBS All Access
- Paramount Film Studios sitting pretty and best poised to have the summer’s first break-out box office smash when Tom Cruise returns as Maverick in the sequel to Top Gun
- Discovery, a largely non-fiction and reality-based content engine, launched Discovery+ to tremendous numbers, outstripping experts’ rosiest projections
- Lionsgate and Sony Pictures Entertainment have robust feature slates unhindered by in-house streaming priorities, giving real momentum to their box-office strategies
- NBC-Universal’s Peacock continues to make bold new programming announcements and its airing of The Office has helped double subscriptions, since the series exited the Netflix NFLX platform
- WarnerMedia, the most hammered of all of the entertainment stocks due to the relative failure of the HBO Max launch, and parent company AT&T’s T proposed sell off of Direct TV, has only faltered by 22%
- Netflix has not only survived, but thrived during the year of “the streaming wars” – – creating the only true global footprint with over 200 million subscribers and living up to its promises of a major studio-sized feature released every month
- Amazon just racked up the most Oscar nominations ever and is on the verge of launching The Lord of The Rings next year, what many believe will be television’s next ‘The Game of Thrones’
Prior to the pandemic, the entertainment industry was in the midst of major consolidations, mergers and acquisitions.
Disney had acquired 20th Century Fox in a deal valued at over $71 billion. Lionsgate had acquired the Starz cable empire for nearly $4.5 billion. Comcast CMCSA NBC-Universal UVV had acquired Great Britain’s Sky for nearly $40 billion.
Rumors continue to abound about whether or not the big entertainment conglomerates may scoop up the various theater chains that have restructured, sought bankruptcy protection and other “hail mary” solutions as this sector of the industry was hit most visibly and endured (barely) the greatest sea-change in America’s relationship with consuming entertainment.
As noted here and elsewhere, the government restrictions preventing big studios from owning theater chains were struck down in early 2020, making the already pandemic-panicked theater chains even more vulnerable as outside investors sat on the sidelines like vultures, waiting for the weakest in the herd to potentially give up, or give out.
MORE FOR YOU
The feeling is palpable, whether in studio meetings, streaming conferences or on network zooms – – the entertainment business is back, big-time.
The question remains – – now that Hollywood is finding its footing again, where will it run to next – – more studio consolidations and acquisitions, potential purchases of theater chains or partnerships with those same chains?
Like most great blockbuster franchises, Hollywood itself seems ready for the next chapter in its never-ending series of breathtaking survival sequels.
from WordPress https://ift.tt/38QOam0
via IFTTT
No comments:
Post a Comment